Meridian Bank announced today that it has commenced an underwritten public offering of approximately 2.2 million shares of its common stock, with an initial public offering price per share of its common stock of between $17.00 and $19.00. All of the shares to be sold in the offering will be offered by Meridian Bank. In addition, Meridian Bank intends to grant the underwriters a 30-day over-allotment option to purchase an additional 15% of the shares sold in the offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.

Meridian Bank intends to use the proceeds to repurchase all of the outstanding shares of its Series 2009A Preferred Stock, Series 2009B Preferred Stock, and Series 2009C Preferred Stock for approximately $12.8 million and for general corporate purposes.

Sandler O'Neill + Partners, L.P. is acting as sole book-running manager for the proposed offering. Keefe, Bruyette & Woods, Inc., a Stifel Company, and D.A. Davidson & Co. are acting as co-managers.

About Meridian Bank

Meridian Bank is a full-service, state-chartered commercial bank with offices in Pennsylvania, New Jersey and Delaware. Its teams of experienced lenders service small and middle market businesses throughout the Bank's market area. Meridian Bank promotes electronic banking, minimizing branch visits and reducing people and paper costs. The Bank has a modern, progressive consultative approach to creating innovative solutions. Meridian Bank provides a high degree of service, convenience and products its customers need to achieve their financial objectives, through commercial and commercial real estate, cash management and merchant solutions, homeowner mortgages and trusted advice regarding financial planning and management of wealth.